Saturday, February 19, 2011

Financial wellbeing index Q3

The Financial Wellbeing Index measures people's financial wellbeing in relation to six focus areas. Here are the key findings in Quarter 3 (September – December 2010)

  •  Aussie households have reported feeling less comfortable across the six focus areas of: credit card and mortgage debt, savings, investments, household income and the ability to pay bills.
  • Aussies have shown determination to stay on top of their mortgages, with 49% of households with a mortgage making additional loan repayments.
  • Credit card debt has increased substantially – up 24% from Q2 to Q3.
the over reliance on credit cards is a worrying trend and we encourage everyone to look to savings as a way to buffer against unexpected costs.

For assistance with budgeting, setting up a savings plan or financial planning for a secure future, speak to one of the financial planners at Intellichoice today.